1. The defendant's appeal is dismissed.

2. The costs of appeal shall be borne by the Defendant.

Purport of claim and appeal

1..

1. Basic facts

A. On May 30, 2003, C loaned 12,000,000 won to D at the interest rate of 18% per annum and 25% per annum. On the same day, C provided joint and several guarantee for D’s loan obligations to D’s above bank.

(hereinafter “instant loan”). (b)

On March 13, 2004, C filed a lawsuit against D and the Defendant on the claim for the loan of this case under the Daegu District Court Young-gu District Court Branch 2004Gaso673, and the above court on March 16, 2004 decided to recommend execution that "the Defendant shall jointly and severally with D pay C the amount of KRW 12,00,000 and interest calculated at the rate of 25% per annum from May 31, 2003 to the date of full payment." The above decision was served on D on April 24, 2004, and confirmed on March 19, 2004, and was served on the Defendant on March 19, 2004, and confirmed on April 3, 2004.

(hereinafter referred to as “previous executive title”). (c)

On December 21, 2007, C transferred the instant loan claim to the Plaintiff according to the Financial Supervisory Commission’s decision on the transfer of contracts.

(Plaintiffs have changed from E Corporation to A on November 10, 2009). [Grounds for recognition] The fact that there is no dispute, entries in Gap evidence 1 to 3, and the purport of the whole pleadings.

2. Determination

A. According to the above facts of determination as to the cause of claim, the defendant is obligated to pay 4,00,000,000 won as to the principal and interest of loan of this case to the plaintiff, the transferee of the claim of this case, as well as damages for delay calculated at the rate of 25% per annum from May 31, 2003 to the date of full payment.

The plaintiff is entitled to the benefit of protecting the rights of the lawsuit of this case for the interruption of extinctive prescription of the claim based on the previous executive title.

B. The Defendant’s defense is a defense that the claim of the instant loan expired by the statute of limitations, and the Plaintiff’s lawsuit of this case is above.